SBC Exports Ltd

SBC Exports Ltd

₹ 28.8 3.22%
24 May - close price
About

SBC Exports Ltd was incorporated in 2011. It is engaged in the Trading and Manufacturing of Garments, Manpower Supply Services & Tour Operator Services. Currently, co. has 70 distributors in India, receives an average of 75 new projects every year. Mr Govindji Gupta is the MD of the co. [1] [2] [3]

Key Points

Business Overview

SBC Exports Limited is engaged in the Trading and Manufacturing of Garments, Manpower Supply Services & Tour Operator Services. Earlier it was engaged in the Trading of handmade carpets, cushion covers, cotton quilts and bedspreads etc. It entered into Business of Information Technology and Manpower Supply Services in 2017 and Tour and Travel Services in 2018. It is working as a Tour & Travel Booking engine via Maujitrip.Com .[1]

Business Segment
Textiles, Garments (~53% in 9M FY24 vs 51% in FY23) - Co. is engaged in the production of Hosiery Fabrics & Hosiery Garments for Ladies, Mens’ and Kids, which are sold under the brand name of “SBC DESIGN+”, “SBC F-ROUTE”, “IEDEE”. It is also into Home Furnishings which includes handmade carpets, cushion covers, cotton quilts, and bedspreads, etc. It has 2 processing units in UP.

  • Market Cap 916 Cr.
  • Current Price 28.8
  • High / Low 33.9 / 12.4
  • Stock P/E 97.5
  • Book Value 1.39
  • Dividend Yield 0.12 %
  • ROCE 28.7 %
  • ROE 23.8 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 47.8% CAGR over last 5 years
  • Company's median sales growth is 28.1% of last 10 years

Cons

  • Stock is trading at 20.7 times its book value
  • Promoter holding has decreased over last quarter: -1.19%
  • Company has high debtors of 175 days.
  • Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Textiles Industry: Textiles - Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
50.88 8.11 52.02 56.10 51.92 40.18 35.27 47.74 64.87 49.61 30.98 47.81 62.62
49.12 8.79 49.41 52.48 49.88 37.86 33.14 44.62 62.02 44.47 27.33 44.00 58.76
Operating Profit 1.76 -0.68 2.61 3.62 2.04 2.32 2.13 3.12 2.85 5.14 3.65 3.81 3.86
OPM % 3.46% -8.38% 5.02% 6.45% 3.93% 5.77% 6.04% 6.54% 4.39% 10.36% 11.78% 7.97% 6.16%
0.11 0.30 0.00 0.01 0.04 0.51 0.05 0.14 1.38 0.95 0.22 0.75 1.71
Interest 0.41 0.31 0.36 0.44 0.51 0.30 0.57 0.62 0.78 1.16 1.40 1.46 1.91
Depreciation 0.20 0.19 0.19 0.13 0.20 0.20 0.03 0.31 0.86 0.35 0.33 0.26 0.38
Profit before tax 1.26 -0.88 2.06 3.06 1.37 2.33 1.58 2.33 2.59 4.58 2.14 2.84 3.28
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1.26 -0.88 2.06 3.05 1.37 2.34 1.58 2.33 2.59 4.58 2.14 2.84 3.28
EPS in Rs 0.04 -0.03 0.06 0.10 0.04 0.07 0.05 0.07 0.08 0.14 0.07 0.09 0.10
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2 10 16 21 29 64 80 109 192 205 214 191
2 10 16 21 28 62 77 105 188 197 204 175
Operating Profit 0 0 0 0 1 2 3 4 4 8 11 16
OPM % 1% 1% 0% 1% 2% 2% 3% 4% 2% 4% 5% 9%
0 0 0 0 0 0 0 0 0 0 2 4
Interest 0 0 0 0 0 0 1 1 2 2 2 6
Depreciation 0 0 0 0 0 0 0 1 1 1 1 1
Profit before tax 0 0 0 0 1 1 2 2 3 6 9 13
Tax % 0% 33% 33% 30% 35% 33% 27% 34% 28% 39% 26% 27%
0 0 0 0 0 1 1 1 2 3 7 9
EPS in Rs 0.05 0.05 0.10 0.18 0.82 2.12 0.06 0.04 0.06 0.11 0.21 0.30
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 16% 0%
Compounded Sales Growth
10 Years: 35%
5 Years: 19%
3 Years: 0%
TTM: -11%
Compounded Profit Growth
10 Years: 85%
5 Years: 48%
3 Years: 72%
TTM: 38%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 172%
1 Year: 106%
Return on Equity
10 Years: 18%
5 Years: 17%
3 Years: 21%
Last Year: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0 0 0 0 0 0 8 11 11 21 21 32
Reserves 0 0 0 0 0 1 5 10 12 5 14 12
0 0 0 0 1 3 13 7 9 9 27 25
1 1 6 4 8 15 14 25 45 61 53 115
Total Liabilities 1 1 6 5 9 19 40 53 76 97 115 184
0 0 0 0 0 1 3 4 4 6 8 23
CWIP 0 0 0 0 0 0 0 0 0 0 0 1
Investments 0 0 0 0 0 0 0 0 0 3 5 0
1 1 6 4 9 18 37 48 71 88 102 161
Total Assets 1 1 6 5 9 19 40 53 76 97 115 184

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 0 0 1 0 0 -18 4 -2 5 -12 3
0 0 0 -0 -0 -1 -3 -2 -1 -4 -5 -27
0 0 0 0 0 1 21 -0 2 0 17 25
Net Cash Flow 0 0 0 0 0 1 0 2 -1 1 1 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 56 16 114 44 51 42 82 74 57 87 95 175
Inventory Days 119 23 11 26 46 46 41 41 62 50 59 86
Days Payable 185 29 133 66 100 85 66 86 74 75 67 154
Cash Conversion Cycle -10 10 -8 3 -3 3 57 29 46 62 87 106
Working Capital Days -5 12 2 -3 1 10 98 65 45 36 73 47
ROCE % 17% 15% 19% 33% 58% 56% 17% 12% 14% 22% 24%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
68.09% 68.06% 68.26% 65.22% 65.22% 65.50% 65.78% 65.81% 65.81% 65.69% 65.91% 64.71%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.16% 0.03% 0.01%
31.91% 31.94% 31.74% 34.78% 34.78% 34.50% 34.24% 34.19% 34.18% 34.16% 34.06% 35.28%
No. of Shareholders 8512792849,73656,63749,59054,65749,45550,16749,76072,4871,37,788

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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